Biz Beat Blog

Dallas-Fort Worth office leasing heads higher in third quarter

The 1.5 million-square-foot State Farm campus in Richardson is the biggest chunk of more than 5 million square feet of North Texas office construction.

North Texas office demand continued to grow in the third quarter.

Through the first nine months of 2013, net office leasing in the Dallas-Fort Worth area is about 15 percent ahead of where it was a year earlier, according to preliminary numbers from Cushman & Wakefield of Texas Inc.

Expanding and relocating office tenants have increased occupancy in the D-FW area by 2.3 million square feet so far this year.

The biggest increases in net leasing have been in the Telecom Corridor along North Central Expressway, in West Plano-Frisco and in Las Colinas.

Overall office vacancy in the D-FW is now at just over 18 percent – one of the lowest levels of empty space in almost a decade.

Currently there is about 5.4 million square feet of office space being built in the area. That’s up from just over 1 million square feet a year ago.

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